Monthly Archives: May 2015

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We summarize last week’s activities; share upcoming events for next week; and comment on how much corporations paid US senators to fast-track the TPP, how the TPP is unconstitutional, AT&T’s lawsuit claiming net neutrality violates their first and fifth amendment constitutional “rights,” the average age of minimum wage workers is 36, and the acquittal of Cleveland police officer Michael Brelo on the 137 shots killings.

Coverage of the huge public meeting last night about the possible privatization/corporatization of the Cleveland Heights water system. Not a single person of the roughly 30 people who testified were in support.

A incorrect impression is that Fast Track and the Trans Pacific Partnership (TPP) are one in the same. They are not.

Fast Track is the set of terms or rules governing how Congress can discuss, debate and decide the TPP — the so-called “trade agreement” that will give transnational corporations the authority to overturn local, state and national democratically-enacted laws protecting workers, consumers and the environment.

Fast Track terms include limiting duration of debate, limiting the debate itself and preventing Congress from introducing any amendments. These terms not only apply, however, to the TPP, but to all so-called trade deals that come before Congress while Fast Track is in effect. This is likely to be several years. Lining up, like backed up airplanes at a busy airport, are other international agreements.

The Transatlantic Trade and Investment Partnership (or TTIP) agreement is one. It’s the European equivalent of the TPP in terms of addressing not just trade issues, but issues of worker, consumer and environmental laws and regulations that transnational corporations seek to gut.

Another agreement is one you may not have heard of. It’s called the Trade in Services Agreement, or TISA.

TISA a treaty between 24 parties, including the US and the European Union – or a total of 50 countries that make up 68% of the world’s trade in services. TISA aims to “liberalize” the trade in services – a sanitized word for abolishing. The specific services include banking, health care and transport – among others. Like the TPP, TISA has been negotiated in secret

Wikileaks last year released a classified draft of the financial services portion of the agreement. According to Wikileaks,

“The draft Financial Services Annex sets rules which would assist the expansion of financial multi-nationals – mainly headquartered in New York, London, Paris and Frankfurt – into other nations by preventing regulatory barriers…The leaked draft also shows that the US is particularly keen on boosting cross-border data flow, which would allow uninhibited exchange of personal and financial data.”

Additionally, the current draft also includes language inferring that, upon the finishing of negotiations, the document will be kept classified for five full years.

Despite the complete failure of sufficient financial regulations to prevent the 2007-2008 global financial collapse, TISA proposes even less financial regulation and would have the power to trump existing national financial regulations. It would be an immense aid to the Too Big to Fail banking corporations, which is why the banking industry, the #1 sector that politically contributes/donates to federal elected officials, wants it. Public pension funds, for example, could be challenged as “monopolies.” Effort to regulate casino-like financial derivatives could be challenged a financial “barriers.” Basically ANY public proposal to limit in any way the private financial sector would be in violation of TISA.

Fast Track, which passed the Senate last Friday, is more than the TPP — which is bad enough. In some respects, specifically related to banking corporations, TISA may actually be worse. Yet Fast Track would permit all international agreements dealing with trade to be railroaded or steam rolled through Congress with little discussion and debate and no amendments.

TISA is another reason to oppose Fast Track. It’s another reason to call your Congressional Representatives.

2007 – PUBLICATION OF ARTICLE “CREDIT AS A PUBLIC UTILITY: THE KEY TO MONETARY REFORM” BY RICHARD COOK
“We now need to return to the recognition that money and credit truly are public utilities as recognized during colonial days and at the times of great crises such as the Revolutionary War, the Civil War, and the New Deal.
Today we are in a similar crisis, when the solution is the same as it has been in the past. It is for the commonwealth of Americans, acting through their elected representatives, to exert their constitutional prerogatives in controlling the nation’s supply of money and credit.”

MAY 27

1923 – BIRTH OF HENRY KISSINGER, 56TH US SECRETARY OF STATE
“If you control the oil, you control entire nations; if you control the food, you control the people; if you control the money, you control the entire world.”

MAY 28

2014 – STANLEY FISCHER BEGINS TERM AS A MEMBER OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. A MONTH LATER, HE BECAME VICE CHAIR
“I thought that when Dodd-Frank [proposed bank reform legislation] started, that the banks would not succeed in influencing it, having lost all the prestige they lost…Boy, was I wrong.”

MAY 29

1998 – DEATH OF BARRY GOLDWATER, REPUBLICAN SENATOR FROM ARIZONA
“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”

MAY 30

1908 – ALDRICH-VREELAND ACT SIGNED BY PRESIDENT THEODORE ROOSEVELT
The Act established the National Monetary Commission recommending the Federal Reserve Act of 1913, creating the Federal Reserve System, the current private central bank (actually 12 banks to give the appearance of decentralization of economic power and control) of the US. The Aldrich-Vreeland Act was passed in response to the economic Panic of 1907 of bank failures. JP Morgan and other bankers who had been the target of Roosevelt’s trust busting efforts through more aggressive enforcement of the Sherman Anti-Trust Act manufactured the Panic. Through manipulating the stock market, calling in loans and not granting new ones, Morgan severely contracted the nation’s money supply. Thousands of banks were overextended. An economic crash followed. The Panic of ’07 was the pretext used to end the nation’s system of decentralized private banking by creating a system of centralized private banking – the Federal Reserve System.

MAY 31

1857 – BIRTH OF POPE PIUS XI
“For what will it profit men that a more prudent distribution and use of riches make it possible for them to gain even the whole world, if thereby they suffer the loss of their own souls? What will it profit to teach them sound principles in economics, if they permit themselves to be so swept away by selfishness, by unbridled and sordid greed, that, ‘hearing the Commandments of the Lord, they do all things contrary.”

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Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt? Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice. This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini, Deb Jose and Greg Coleridge helped in its development. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, email monetarycalendar@yahoo.com

We summarize last week’s activities; share upcoming events for next week; and comment on how Fast Track could apply to a trade deal worse than the TPP, how an amendment to the TPP could result in severe cuts to Medicare, what’s behind big banks pleading guilty to market manipulation and the sudden resignation of Akron Mayor Don Plusquellic.

The documentary film Shadows of Liberty reveals the extraordinary truth behind the news media: censorship, cover-ups and corporate control.

Filmmaker and film contributors are available for interviews between now and the screening. For more information and to review a film screener, call Debra at 720-917-4900 or email Debra@docfactory.org

In highly revealing stories, renowned journalists, activists and academics including DANNY GLOVER, JULIAN ASSANGE, DAN RATHER, AMY GOODMAN, DAVID SIMON, NORMAN SOLOMON, BOB BEAR, ROBERTA BASKIN, JOHN MACARTHUR, DANIEL ELLSBERG, JANINE JACKSON, CHRIS HEDGES, ROBERT MCCHESNEY,KRISTINA BORJESSON and JOHN NICHOLS give insider accounts of a broken media system. Controversial news reports are suppressed, people are censored for speaking out, and lives are shattered as the arena for public expression is turned into a private profit zone.

Shadows of Liberty is dedicated to the journalists and information freedom fighters, the heroes of our time, who dedicate their lives to our right to freedom of information – the central pillar of a free society. Shadows of Liberty provides a platform for voices that have been silenced and in doing so, attempts to inspire change and accountability. This film champions the idea of an independent media where truth and integrity are the norm, not the exception.

After the screening, there will be a panel discussion.
This is a free event, with donations greatly appreciated.

About the Sponsors:

Cleveland Move to Amend is part of the national MTA coalition, which seeks a 28th amendment to the U.S. Constitution that would abolish corporate “personhood” and money defined as “free speech.” It currently is working on collecting signatures for a citizens initiative that would place on the November 2016 ballot a call for Congress to pass the MTA constitutional amendment.

Common Cause is a nonpartisan, grassroots organization dedicated to restoring the core values of American democracy, reinventing an open, honest and accountable government that serves the public interest, and empowering ordinary people to make their voices heard in the political process. In this spirit, Common Cause serves as an independent voice for change and a watchdog against corruption and abuse of power.

DocFactory was created in 2005 to produce independent documentary films to bring awareness and inspire change for important social issues worldwide. DocFactory creates films that break the mould and reveal important stories that focus on injustices. DocFactory is also committed to innovative, strategic outreach campaigns.

Northeast Ohio AFSC educates, advocates and organizes around issues of political and economic justice. This includes the national Move to Amend proposed constitutional amendment to abolish corporate “personhood” and money defined as “free speech;” sane and humane federal, state, and local budget priorities and tax and monetary policies; and creating and nurturing local economic alternatives.

The Northeast Ohio Newspaper works to improve the working conditions and advance the economic interests of our members.

ProgressOhio is Ohio’s largest progressive, state-based 501(c)(4). In addition to communicating directly with our 300,000+ members, we serve as a non-profit progressive messaging and earned media hub to hundreds of partner groups. Our mission is to promote progressive solutions, correct right-wing misinformation, and hold public leaders accountable, helping make an Ohio that works for everyone.

Veterans For Peace is a global organization of Military Veterans and allies whose collective efforts are to build a culture of peace by using our experiences and lifting our voices. We inform the public of the true causes of war and the enormous costs of wars, with an obligation to heal the wounds of wars. Our network is comprised of over 140 chapters worldwide whose work includes: educating the public, advocating for a dismantling of the war economy, and most significantly, working to end all wars.

West Shore Church: Our vision is to inspire more people to lead lives of meaning and purpose. We do this by providing: transcendent worship; a nurturing, inclusive community; lifespan faith development; service to others within our congregation, our local community and the world beyond; and by spreading the news of Unitarian Universalism and our church.

1846 – STATE OF IOWA CONSTITUTION ADOPTED
Article VIII of the original constitution states:
“Municipal corporations. Section 4. No political or municipal corporation shall become a stockholder in any banking corporation, directly or indirectly.
Banking associations. Section 5. No Act of the General Assembly, authorizing or creating corporations or associations with banking powers, nor amendments thereto shall take effect, or in any manner be in force, until the same shall have been submitted separately, to the people, at a general or special election, as provided by law, to be held not less than three months after the passage of the Act, and shall have been approved by a majority of all the electors voting for and against it at such election.”

1920 – SECRET MEETING BY BANKERS TO REDUCE THE MONEY SUPPLY, WHICH RESULTED IN 5 MILLION UNEMPLOYED
Testimony in 1938 before the House Committee on Banking and Currency by Senator Robert Owen, a co-sponsor of the Federal Reserve Act:
“I wrote into the bill which was introduced by me in the Senate on June 26, 1913, a provision that the powers of the System should be employed to promote a stable price level, which meant a dollar of stable purchasing, debt-paying power. It was stricken out. The powerful money interests got control of the Federal Reserve Board through Mr. Paul Warburg, Mr. Albert Strauss, and Mr. Adolph C. Miller and they were able to have that secret meeting of May 18, 1920, and bring about a contraction of credit so violent it threw five million people out of employment.
In 1920 that Reserve Board deliberately caused the Panic of 1921. The same people, unrestrained in the stock market, expanding credit to a great excess between 1926 and 1929, raised the price of stocks to a fantastic point where they could not possibly earn dividends, and when the people realized this, they tried to get out, resulting in the Crash of October 24, 1929.”

MAY 19

1977 – QUOTE BY BIRTH OF EARL OF CAITHNESS (MALCOLM IAN SINCLAIR), MEMBER OF THE UK HOUSE OF LORDS
“The next government must grasp the nettle, accept their responsibility for controlling the money supply and change from our debt-based monetary system. My Lords, will they? If they do not, our monetary system will break us and the sorry legacy we are already leaving our children will be a disaster.”

MAY 20

1851- BIRTH OF CHARLES MACUNE, HEAD OF SOUTHERN FARMERS’ ALLIANCE AND ORIGINATOR OF THE POPULIST “SUB-TREASURY PLAN”
The “Sub-Treasury Plan,” developed by the southern Populist Macune, was an ingenious proposal to circumvent banking corporations, merchants and landlords by farmers to avoid debt at high interest, which often resulted in the loss of their farms. The proposal called for farmers to store their harvest in federal warehouses when prices for their commodities were low. Farmers would leverage those commodities for loans (up to 80% of the market value in federal notes) to support themselves until prices rose. The proposal was especially useful to southern farmers with non-perishable crops (i.e. cotton). The farmer had one year to sell the crop and then pay back the note and 1% interest.

MAY 21

1912 – SPEECH BY J. LAWRENCE LAUGHLIN, CHAIR OF THE EXECUTIVE COMMITTEE OF THE NATIONAL CITIZENS’ LEAGUE, ON MONETARY REFORM
Born in Deerfield, Ohio, Laughlin was the first chair of the economics department at the University of Chicago and chair of the Executive Committee of the National Citizens League for the Promotion of a Sound Banking System from 1911-13. The League was established and funded with $5 million in contributions from the big New York banks (including those owned by John D. Rockefeller and J.P Morgan) to establish an “educational fund.” The fund financed respected university professors, such as Laughlin, to endorse the concept of creating a private central bank, what became the Federal Reserve Bank, created by the 1913 Federal Reserve Act. The “Citizens'” League provided a terrific cover in providing the appearance that privatizing/corporatizing money creation by a private national central bank was sound and reasonable since “objective” intelligent university professors promoted it.

MAY 22

1912 – SPEECH BY ROBERT MCCABE, VICE CHAIR OF THE OHIO CHAPTER OF THE NATIONAL CITIZENS’ LEAGUE, ON MONETARY REFORM
McCabe, an Ohio attorney, was recruited to speak on behalf of the plan supported by the nation’s biggest banks to create a private national central bank. He spoke throughout Ohio and the Midwest. He spoke on his date in Illinois. Among the points in his remarks was that the creation of what would become the Federal Reserve System, which would “avoid the tendency to take the money power of the nation out of the hands of the many and put it in the hands of the few.” The reality was and remains just the opposite.
The New York Times on the National Citizens’ League: ““A million dollars doesn’t go very far in a campaign of education such as is being carried on by the National Citizens League for the promotion of a sound banking system, yet the contribution of $1,000,000 for that purpose by individual Directors of the National banks of the country a short time ago provoked much comment and a suggestion that the electorate was the be corrupted by the use of these funds.”

MAY 23

1933 – ARTICLES OF IMPEACHMENT PRESENTED IN THE US HOUSE OF REPRESENTATIVES AGAINST THE FEDERAL RESERVE BOARD OF GOVERNORS, THE OFFICERS AND DIRECTORS OF THE FEDERAL RESERVE BANKS, THE US SECRETARY OF TREASURY AND OTHERS FOR THEIR COLLUSION IN CAUSING THE GREAT DEPRESSION.
US Congressman Louis McFadden, Chairman of the House Banking and Currency Committee, introduced the Articles of Impeachment. McFadden stated,
“The Great Depression was not accidental; it was a carefully contrived occurrence… bankers sought to bring about a condition of despair here, so that they might emerge as rulers of us all.”
“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders, which prey upon the people of the United States for the benefit of themselves and their foreign customers….The truth is, the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly, which operates the Federal Reserve Board.”

1937 – DEATH OF JOHN D. ROCKEFELLER, OIL AND FINANCIAL CAPITALIST
“God gave me my money!”

MAY 24

1543 – DEATH OF NICOLAS COPERNICUS, MATHEMATICIAN AND ASTRONOMER
“Although there are countless maladies that are forever causing the decline of kingdoms, princedoms, and republics, the following four (in my judgment) are the most serious: civil discord, a high death rate, sterility of the soil, and the debasement of coinage.
The first three are so obvious that everybody recognizes the damage they cause; but the fourth one, which has to do with money, is noticed by only a few very thoughtful people, since it does not operate all at once and at a single blow, but gradually overthrows governments, and in a hidden, insidious way.”
Debasement means lowering the value of. What lowers the value of our currency? How about creating it out thin air like the Federal Reserve via Quantitative Easing (QE) has done to prop up major banks?

1604 – ENGLISH COURT DECISION ON “MIXED MONEY” CASE
English court rules that sovereign governments possess the power to create, regulate, limit and define money.
“The Mixt Moneys case decided that Money was a Public Measure, a measure of value, and that, like other measures, it was necessary in the public welfare that its dimension of volume should be limited, defined and regulated by the State. The whole body of learning left us by the ancient and renascent world was invoked in this celebrated dictum: Aristotle, Paulus, Godin and Budelius were summoned to its support; the Roman law, the common law and the statutes all upheld it; “the State alone had the right to issue money and to decide of what substances its symbols should be made, whether of gold, silver, brass or paper. Whatever the State declared to be money, was money.” – from The History of Money in America by Alexander Del Mar

1924 – DEATH OF CHARLES LINDBERGH, REPUBLICAN CONGRESSMAN (MN) AND FATHER OF FAMED AVIATOR
“This [Federal Reserve] Act establishes the most gigantic trust on earth. When the president signs this bill, the invisible government by the monetary power will be legalized. The people may not know it immediately but the day of reckoning is only a few years removed, the worst legislative crime of the ages perpetrated by this bank bill.”
“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”

———————–

Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt? Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice. This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini, Deb Jose and Greg Coleridge helped in its development. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, email monetarycalendar@yahoo.com